IBorrow Provides $46.5M Refinance Loan For Industrial Portfolio In Riverside, Brockport, Phenix City, Horseheads, And Columbia
1825 Chicago Avenue, 1955 Chicago Avenue, 1989 Transit Way, 901 Fontaine Road, 903 Fontaine Road, 200 Westinghouse Circle & 2340 Broad River Road
$46,523,136
Building Size
—
Asset Type
Industrial
Closing
Nov 30, 2023
AI
The industrial property located at 1825-1955 Chicago Ave, 1989 Transit Way, 901-903 Fontaine Rd, 200 Westinghouse Circle, and 2340 Broad River Rd has recently undergone a loan transaction in Riverside, CA, Brockport, NY, Phenix City, AL, Horseheads, NY, and Columbia, SC. The property was financed by iborrow-009a990f-662d-4769-811b-a9f1bfa01c65-duplicate''>iBorrow, with Brian Good and Emin Aboolian representing the lender. The loan amount for this refinance transaction was $46,523,136.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $46,523,136
- Lender: iBorrow - Brian Good & Emin Aboolian
- Landlord: ALTO Real Estate Funds - Yaniv Melamud, Mody Kidon, & Dor Dezalovsky
- Brokers: Andrew N. Westling & Riley Manke - Walker & Dunlop
The key individuals and companies involved in this loan transaction include ALTO Real Estate Funds, represented by Yaniv Melamud, Mody Kidon, and Dor Dezalovsky as the landlords, and iBorrow represented by Brian Good and Emin Aboolian as the lenders. Walker & Dunlop, with Andrew N. Westling and Riley Manke as the brokers, facilitated this deal.
Players
Riverside Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93